Interpreting Odds:

Odds reflect the probability of a specific outcome of an event. For example, a decimal odds of 2.0 means that the probability of that outcome is 50%. The higher the odds, the lower the probability of that outcome according to the bookmaker. Thus, analyzing odds helps determine which outcomes are considered the most probable.

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Bookmakers include a margin in their odds to ensure a profit for themselves. The margin is the difference between the probability of an event and the odds offered by the bookmaker. The higher the margin, the lower the probability of winning for the bettor. Analyzing the margin helps assess how favorable the odds are.